Cryptocurrency, decades from now

avatar

We all deal with money but it is a subject we rarely want to chat about, it is also a subject we have little knowledge about due to the way our school system is structured giving us little or no knowledge of how to be financially literate.

Being involved in cryptocurrency has exposed some of us to financial literacy, it is a continuous learning process daily as we broaden our knowledge of money to increase our income.

Black Purple Modern Bold What is NFT Youtube Thumbnail.png

Money

Ever wondered how people reacted over the transformation of money as it evolved from where it began to where we are today? A bit of history from school, even though I hated History as a subject because of dates I have to commit to memory tells us a bit about money, and how businesses were conducted through trade by barter.
Bringing the cow in exchange for oil or whatever products were agreed upon was how transactions were conducted we were told back then.

History also tells us there were eras of shells used as money. In no particular order money evolved into stones, gems, metals, paper, and even plastic.

People are slow to embrace change, and some will go as far as fighting change either because they are benefiting from the current system or are just comfortable with the current system.

Money from metal to paper, how did people react to such monetary transformation? I can imagine it must have been an unwelcome change in the monetary system.

Fast forward to the present day we are experiencing the same opposition to change in the monetary system. Some do not see cryptocurrency as a form of money going forward. It must have been the case back then and we experience a similar reaction to money transformation now.
A look back at decades from now generations will wonder how obsolete paper money is.

Currency for everyone

By the looks, we are most probably evolving toward a better form of money than ever existed. When we look at the decentralization characteristic of cryptocurrency, the elimination of intermediaries, cross border transactions within seconds or minutes compared to days the current system offers.

Draw up a comparison between cryptocurrency and fiat currency and the difference as to a better form of money will be laughable decades from now. We are dealing with currency for everyone, a peer-to-peer kind of money banking for the unbanked which in my opinion gives financial control to everyone.

4HFqJv9qRjVecs4xkhd5EvhidWEEBnn9tCVDBkBhQpUFvab78MhbU1Vuhsv2nJ2ugLQ4jgoYaT2PVTE1rv7F3KJvnDsHa35tCHLax2ssgUniFSQW5hn3YTimRBRATW8fsxoPk9AY3pXfRonvfdbrEjimyvnEwGLdDed.gif
Gif by @mariosfame

We owe it to ourselves to make Hive great

image.png
Image by @doze**

Posted Using LeoFinance Beta



0
0
0.000
10 comments
avatar

Cryptocurrencies will outclassed fiat in the future and we have to keep building now to be part of that future

Posted Using LeoFinance Beta

0
0
0.000
avatar

Cryptocurrency offers better form of money in various ways, I see no reason to oppose it than embrace it.
It feels great being part of the transformation.

!PIZZA

Posted using LeoFinance Mobile

0
0
0.000
avatar

Right now only XMR with privacy and fungibility and low cost is suitable for day to day use.

The question is which ones will survive and be ubiquitous in the long run?

Anyone can copy and paste, but what will be the "it" to gain wide spread acceptance?

CDBC by force? Just because they can?

0
0
0.000
avatar

It is more likely we have thousands of cryptocurrencies for transactions than having a dominant global one. We are likely to have cases where users use cryptocurrency familiar to them and convert to popular ones like Bitcoin for international payment for example or when shopping locally.
We are dealing with a vast form of money where anyone can create tokens with technical know-how. So it is difficult to foresee a single dominant cryptocurrency for transactions in the future.

As for CBDC a replacement for paper money, as much as it will be centralized, I'd like to see it as a Trojan horse for decentralized cryptocurrencies.

!PIZZA

Posted Using LeoFinance Beta

0
0
0.000
avatar

Great post bro, change is hard but it's gonna happen. The paper money has to go but will governments let go of their control of money? That's where the struggle will be but decentralized bitcoin and Eth are emerging as a force to be reckoned with. Even our own hive is no joke. The future looking interesting but time will tell, let's wait and see.

0
0
0.000
avatar

It is highly unlikely governments will let go of fiat currency, fiat will exist in digital form like China's CBDC.
Cryptocurrency offers us options galore to transact in multiple currencies unlike being limited to the USD and our national currency like we have today.

A great midweek to you bro.

!PIZZA

Posted Using LeoFinance Beta

0
0
0.000
avatar

I think it will be tough because the move to crypto requires people to trust crypto. Most people aren't really moving off of fiat anytime soon but I do think it will be possible in a few decades. At the same time, I just wonder how many people who are unbanked use crypto. I haven't really heard many people talk about that part.

Posted Using LeoFinance Beta

0
0
0.000
avatar

Decades from now we will have more educated and younger generations embracing digital life than we are today, we might have to consider demographics regarding digital life as well.
Also perhaps if we have to dig back to the history of changes in money, it probably didn't take full transformation in 5 or 10 years.

I think it depends on time, as we advance into the future cryptocurrency will continue to spread giving providing options for the use of currencies as desired.

!PIZZA

Posted Using LeoFinance Beta

0
0
0.000